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Reuters reports that India could buy potash from Belarus and pay in rupees as sanctions restrict Minsk's access to conventional payment channels. The excerpt cites spot potash trading around $650 a tonne, well above annual contract prices paid by large buyers such as India, China and Brazil.
A rupee settlement route could keep Belarusian tonnes flowing to India despite sanctions, which would ease some pressure on the tight potash market. Spot prices well above contract levels signal that buyers face high costs until supply is restored.
reuters.comRajendra JadhavFeb 2, 2022Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
